May 31, 2000 - Danish brewing giant Carlsberg and Norway Orkla plan to create a joint brewing company that will be the world's sixth largest. Carlsberg will own 60% of the new venture and Orkla 40%. It will carry the Carlsberg name. Carlsberg currently is the world's eight largest brewery.

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Under the deal, Orkla will transfer its Pripps Ringnes unit, the leading brewery in Norway and Sweden, and its 50% stake in Baltic Beverage Holdings to Carlsberg in exchange for shares in the new brewery. Baltic Beverage Holdings is the biggest brewery in the three Baltic states.

Carlsberg Breweries will compete heavily in Nordic countries, as well as in Russia, the Baltics, Ukraine and parts of Asia.

Carlsberg, which produces its Carlsberg and Tuborg brands, was founded more than 150 years ago. The company has about 100 subsidiaries and 90% of its sales are outside Denmark.

It is considered the leading contender to acquire the Bass brewing business, which is on the market, with Heineken its top competition.